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REVENUE RECOGNITION | 6 Months Ended
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Jun. 30, 2026
Revenue from Contract with Customer [Abstract] |
REVENUE RECOGNITION | NOTE 3: REVENU E RECOGNITION A reconciliation of revenue recognized by our major products:
|  | QUARTER ENDED |  |  | YEAR-TO-DATE ENDED |
DOLLAR AMOUNTS IN MILLIONS |  | JUNE 2026 |  |  | JUNE 2025 |  |  | JUNE 2026 |  |  | JUNE 2025 |
Net sales to unaffiliated customers: |  |  |  |  |  |  |  |  |  |  |  |
Timberlands segment |  |  |  |  |  |  |  |  |  |  |  |
Delivered logs: |  |  |  |  |  |  |  |  |  |  |  |
West |  |  |  |  |  |  |  |  |  |  |  |
Domestic sales |  | $ | 100 |  |  | $ | 102 |  |  | $ | 183 |  |  | $ | 200 |
Export grade sales |  |  | 71 |  |  |  | 67 |  |  |  | 132 |  |  |  | 138 |
Subtotal West |  |  | 171 |  |  |  | 169 |  |  |  | 315 |  |  |  | 338 |
South |  |  | 145 |  |  |  | 154 |  |  |  | 293 |  |  |  | 306 |
North |  |  | 9 |  |  |  | 8 |  |  |  | 23 |  |  |  | 22 |
Subtotal delivered logs sales |  |  | 325 |  |  |  | 331 |  |  |  | 631 |  |  |  | 666 |
Stumpage and pay-as-cut timber |  |  | 11 |  |  |  | 13 |  |  |  | 21 |  |  |  | 23 |
Recreational and other lease revenue |  |  | 20 |  |  |  | 19 |  |  |  | 40 |  |  |  | 38 |
Other(1) |  |  | 11 |  |  |  | 10 |  |  |  | 31 |  |  |  | 28 |
Net sales attributable to Timberlands segment |  |  | 367 |  |  |  | 373 |  |  |  | 723 |  |  |  | 755 |
Strategic Land Solutions segment |  |  |  |  |  |  |  |  |  |  |  |
Real estate |  |  | 91 |  |  |  | 72 |  |  |  | 160 |  |  |  | 134 |
Natural resources |  |  | 34 |  |  |  | 26 |  |  |  | 61 |  |  |  | 45 |
Climate solutions |  |  | 15 |  |  |  | 56 |  |  |  | 126 |  |  |  | 69 |
Net sales attributable to Strategic Land Solutions segment |  |  | 140 |  |  |  | 154 |  |  |  | 347 |  |  |  | 248 |
Wood Products segment |  |  |  |  |  |  |  |  |  |  |  |
Structural lumber |  |  | 591 |  |  |  | 581 |  |  |  | 1,069 |  |  |  | 1,108 |
Oriented strand board |  |  | 180 |  |  |  | 205 |  |  |  | 347 |  |  |  | 433 |
Engineered solid section |  |  | 181 |  |  |  | 169 |  |  |  | 336 |  |  |  | 330 |
Engineered I-joists |  |  | 89 |  |  |  | 95 |  |  |  | 161 |  |  |  | 183 |
Softwood plywood |  |  | 47 |  |  |  | 41 |  |  |  | 85 |  |  |  | 81 |
Medium density fiberboard |  |  | 31 |  |  |  | 36 |  |  |  | 62 |  |  |  | 68 |
Complementary building products |  |  | 179 |  |  |  | 155 |  |  |  | 322 |  |  |  | 280 |
Other(2) |  |  | 62 |  |  |  | 75 |  |  |  | 142 |  |  |  | 161 |
Net sales attributable to Wood Products segment |  |  | 1,360 |  |  |  | 1,357 |  |  |  | 2,524 |  |  |  | 2,644 |
Total net sales |  | $ | 1,867 |  |  | $ | 1,884 |  |  | $ | 3,594 |  |  | $ | 3,647 |
(1) Other Timberlands sales include sales of seeds and seedlings from our nursery operations as well as wood chips. (2) Other Wood Products sales include wood chips, other byproducts and third-party residual log sales from our Canadian Forestlands operations.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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